Cryptocurrency - Page 43 of 151

Ethereum Climbs to $2,588 Amid Institutional Demand and Pectra Upgrade

Ethereum is making waves this May, surging to $2,588, marking a 3.6% increase as of May 26, 2025 . This uptick is fueled by significant institutional interest and the successful implementation of the Pectra upgrade.

Institutional Accumulation
Major players are showing confidence in ETH. Notably, Abraxas Capital withdrew 61,401 ETH (approximately $116.3 million) from exchanges recently, indicating a strategy to hold long-term . Such moves reduce available supply, often leading to price increases.

Pectra Upgrade Enhances Network
The Pectra upgrade, launched on May 7, 2025, introduces several Ethereum Improvement Proposals (EIPs) aimed at improving scalability and staking efficiency. Key highlights include:

EIP-7702: Allows externally owned accounts to utilize smart contract functionalities.
EIP-7251: Increases the staking limit from 32 ETH to 2,048 ETH, streamlining validator operations.
EIP-7691: Enhances scalability by increasing data blobs per block .

These enhancements are designed to make Ethereum more efficient and attractive to both developers and investors.

Market Outlook
With the successful Pectra upgrade and growing institutional interest, Ethereum’s fundamentals appear strong. Analysts are optimistic about its trajectory, especially with upcoming developments like potential spot ETH ETFs on the horizon .

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Acurast Raises $5.4M to Power World’s Largest Smartphone-Based Decentralized Cloud

Acurast Raises $5.4M to Expand Its Smartphone-Powered Decentralized Cloud

The decentralized cloud computing arena just got a major boost.

On May 26, Acurast revealed it had successfully raised $5.4 million in its latest funding round. The capital will be used to improve its unique cloud infrastructure—powered not by massive data centers, but by a network of over 72,000 smartphones.

The raise, which concluded on May 22, featured a public token sale with a price of $0.09 per ACU token, giving it a fully diluted valuation of $90 million. Buyers were allowed to purchase between $100 and $2 million, ensuring a fair and wide distribution.

Decentralized Cloud, Powered by Phones

According to Alessandro De Carli, its Co-Founder and President of the Board, most of the funds will go into enhancing the protocol that enables verifiable, confidential, and energy-efficient computing—directly from everyday mobile phones.

“Acurast proves that compute can be truly decentralized and energy-efficient, using the phones in our pockets,” said De Carli.

Acurast’s tech supports a range of advanced use cases, including blockchain infrastructure, decentralized AI, and more. With over 256 million transactions already processed, Acurast claims it now runs the most decentralized computing network in the world.

Taking on the Cloud Giants

While tech behemoths like Amazon, Microsoft, and Google still control most of the cloud computing market through billion-dollar data centers, Acurast is flipping the script. Its decentralized cloud leverages the idle computing power of personal devices, rewarding users and fostering a more inclusive and energy-conscious ecosystem.

“The ACU token fuels this new cloud economy,” De Carli added. “Anyone can contribute compute from their mobile phone and become part of a secure, scalable, and decentralized infrastructure.”

You might also like: Coinbase Faces New Lawsuit Over Alleged Data Breach Cover-Up

Coinbase Faces New Lawsuit Over Alleged Data Breach Cover-Up

Coinbase Finds More Trouble as It’s Hit with Another Lawsuit

Coinbase can’t seem to catch a break.

Investor Brady Nessler has filed a class action lawsuit against Coinbase Global Inc. (COIN) in the U.S. District Court for the Eastern District of Pennsylvania, claiming the exchange concealed key details about a $20 million extortion attempt tied to a data breach.

Hackers reportedly stole sensitive customer info—like names, addresses, and even identity documents—and then tried to extort Coinbase. Nessler’s lawsuit alleges the company knew about the breach and failed to notify shareholders properly.

“As a result of Defendants’ wrongful acts and omissions… Plaintiff and other Class members have suffered significant losses,” the lawsuit reads.

The class action seeks financial damages, legal fee reimbursement, and a jury trial, but they haven’t issued a public response yet.

This is not the first legal blow for the crypto giant. Earlier this month, Coinbase confirmed hackers bribed third-party contractors to access consumer data, triggering six lawsuits in the aftermath. The company now expects to shell out $180M–$400M in remediation and refunds.

The legal chaos is hitting COIN stock hard. As of the latest update, COIN is trading at $261.16, down 3.23% from the previous close.

Crypto Twitter is buzzing with debate, with some calling for stricter security standards in crypto platforms. As more lawsuits pile up, Coinbase is facing serious pressure to clean up its security—and fast.

YOU MIGHT ALSO LIKE: Ripple’s Bold $110B Play: Why XRP Could Skyrocket Amid Hidden Road Deal

Ripple’s Bold $110B Play: Why XRP Could Skyrocket Amid Hidden Road Deal

Ripple just pulled off a lowkey power move, and the XRP Army is buzzing. Word on the timeline is that Ripple acquired Hidden Road, a big-shot brokerage firm that’s now registered with the FICC—a financial beast that clears over $11 trillion in trades every single day. Yeah, trillion with a T.

A sharp-eyed community member, Matthew, spotted Hidden Road on the FICC membership list and dropped the alpha on X (Twitter). Since then, it’s been making waves in the crypto scene—and for good reason.

So what’s the big deal? FICC runs its massive volume through something called the Government Securities Division, and now Ripple has the backstage pass. That means XRP, RLUSD (Ripple’s new stablecoin), and the XRPL infrastructure could end up settling, collateralizing, or fee-ing their way through Wall Street levels of liquidity.

To put it in perspective:
🚨 1% of FICC’s daily flow = $110B
Even that sliver running through XRPL could throw major demand behind XRP—and unlike your fave memecoin, XRP burns fees with every use, which tightens supply.

The price side of things? XRP is currently chilling around $2.37, down 2.24% but up 340% over the past year. Analysts are watching $2.27 as key support. If XRP bounces, the next target is $3.30, and if the hype holds, maybe even $5.85, according to crypto chart guru Dark Defender.

Some bold predictions?
🔮 $10–$15 XRP by 2027
🔮 $20 XRP by 2030 if adoption keeps snowballing

Back in 2017, XRP pulled an 869% moonshot in a month. Could we be seeing a 2017 repeat with this Hidden Road plug? With BTC hitting ATHs again, the timing couldn’t be better.

So yeah, Ripple’s playing the long game—and it might just pay off big.

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Litecoin Summit 2025 Heads to Las Vegas with Privacy, PoW & Regulation in Focus

he crypto fam’s pulling up to Vegas this week as Litecoin Summit 2025 hits Harrah’s Hotel for a chill two-day run on May 29–30. It’s not the usual flashy NFT/metaverse circus—but that’s exactly the vibe.

Hosted by the Litecoin Foundation, this summit’s got devs, miners, privacy maxis, and old-school LTC heads linking up to talk real stuff—no hype, no pumps, just straight crypto utility.

Thursday’s (May 29) agenda is still hush-hush 👀, but Friday (May 30) is already stacked. It kicks off with early morning coffee (because devs don’t do 9-to-5), and then it’s go-time in the Reno Room. Panels will cover everything from:

The glow-up of money 💸
Real-world crypto payments
The messy world of regulation
Proof-of-work in a PoS-dominated space
Self-custody vs. centralized chaos

With regulation and privacy being the hot tea this year, you can bet debates will get spicy. Real adoption talk will also be on the table—especially since Litecoin’s been grinding silently while the rest of crypto’s been chasing shiny new toys.

Later in the day, expect a heavy-hitter panel with Charlie Lee and other Litecoin OGs. Then? Giveaways and closing vibes before everyone jumps into swimwear mode for the Harrah’s poolside after-party. 🍸🌴

It’s not the flashiest summit of the year—and that’s the point. In a space full of noise, Litecoin’s keeping it real, asking the big Qs like: What actually matters in crypto now?

Also Read: Worldcoin (WLD) Surges 27% as $135M Raise Fuels U.S. Expansion

$111M Short: James Wynn Flips Bearish on Bitcoin After Closing $1.25B Long

In a total plot twist that’s got Crypto Twitter spiraling, legendary trader James Wynn just rage-yeeted a $111 million short on Bitcoin after nuking his $1.25 billion long—with a $13.4M loss. Yeah, you read that right. Man literally rage-quit the bull run.

Wynn now holds a short position on 1,038.7 BTC at $107.7K on Hyperliquid using 40x leverage (aka max risk, max chaos), with a liquidation price chilling at $149K. And guess what? He’s already $544K up, according to Hyperdash. The dude went full villain arc in under 24 hours.

This sudden flip came hot on the heels of U.S. Prez Trump dropping a massive 50% EU tariff bomb, sparking fears of global market turbulence. On-chain? Dormant BTC wallets (5-7 years old) just woke up, possibly gearing up to dump—lining up perfectly with Wynn’s bearish vibes.

Just yesterday, Wynn closed his insane 11,588 BTC long—which literally dropped the price 1.3% on Hyperliquid. Now? He’s setting fire to bullish narratives like Fundstrat’s Tom Lee, who still thinks Bitcoin’s hitting $250K by New Year’s Eve. Lol, okay.

With the long/short ratio at 1.0375, Wynn’s short is a power move that’s shaking the charts and triggering existential dread among perma-bulls. Whether it’s genius or just giga-gambler energy, one thing’s clear: the market’s watching—and sweating.

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Conor McGregor Eyes Presidency, Promises Bitcoin on Europe’s Balance Sheet

UFC Champion Conor McGregor Vows Adding Bitcoin to Europe Treasury

UFC legend Conor McGregor is taking his fight to the political ring—and Bitcoin is in his corner.

In a bold May 22 post, McGregor dropped a bombshell: if elected, he’ll make Bitcoin a strategic part of Europe’s treasury. “First man to win two belts in the cage. First fighter to walk in as president. First president to put Bitcoin on Europe’s balance sheet. Ireland leads. Europe watches,” he wrote on X (formerly Twitter).

This isn’t McGregor’s first crypto jab. Earlier this month, he pitched the idea of an Irish Bitcoin Reserve, tweeting: “Crypto in its origin was founded to give power back to the people… An Irish Bitcoin strategic reserve will give power to the people’s money.”

Now, he’s planning to co-host a Twitter Space with crypto leaders like Anthony Pompliano and David Bailey. “We need the greatest minds for this BTC Reserve,” McGregor said. “Message me and let’s chat on my space.”

McGregor officially announced his presidential run in March 2025, eyeing Ireland’s top seat as President Michael D. Higgins finishes his term on November 11, 2025. While he hasn’t received a formal nomination yet, his campaign is gaining buzz—especially among crypto fans.

He’s also heading to the Bitcoin Nation State Summit in El Salvador, where he’ll reportedly meet President Nayib Bukele to explore how Ireland can follow El Salvador’s BTC playbook.

Whether or not McGregor enters the presidential arena, one thing’s for sure—he’s got Bitcoin on the brain.

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James Wynn Flips Bearish: Opens $111M Bitcoin Short After $1.25B Long Exit

Billion-Dollar Bitcoin Long Trader is Now Bearish: Opens $111M Short

James Wynn, the high-stakes crypto trader known for his massive Bitcoin plays, just made a bold pivot—and the entire market’s watching.

Over the weekend, Wynn flipped from bull to bear, opening a $111 million short on 1,038.7 BTC at $107,711.1—just hours after closing his jaw-dropping $1.25 billion long at a $13.4 million loss. The trade is live on Hyperliquid, running with 40x leverage and a liquidation price of $149,100.

At the time of writing, the short position is already in the green, up $544K in unrealized profits, according to Hyperdash data.

The timing? Interesting. It comes hot on the heels of President Trump’s 50% tariff proposal on the EU, which shook global markets and knocked Bitcoin off its recent ATH. Add to that some on-chain signals—like old BTC wallets (5-7 years dormant) suddenly waking up—and it paints a bearish picture that may be fueling Wynn’s conviction.

Wynn’s trades carry weight. Just a day before, his long exit of 11,588 BTC sparked a 1.3% drop on Hyperliquid, stirring fears of further downside.

Still, not everyone agrees. Fundstrat’s Tom Lee remains ultra bullish, still calling for $250K BTC by year-end.

With Bitcoin’s long/short ratio at 1.0375, Wynn’s monster short has flipped the vibe. Whether it’s genius or gamble, one thing’s certain: crypto is never boring.

YOU MIGHT ALSO LIKE: $260M Cetus Hack on Sui Sparks Heated Debate on Blockchain Decentralization

$260M Cetus Hack on Sui Sparks Heated Debate on Blockchain Decentralization

$260M Cetus Hack: Sui Freezing Funds Sparks Decentralization Concerns

Cetus Protocol, one of Sui blockchain’s leading DEXs, just took a massive hit—$260 million drained from its liquidity pools in what’s now the biggest crypto hack of 2025 so far.

The Cetus hack exploit, which occurred on May 22, targeted a smart contract bug tied to an oracle vulnerability. Cetus quickly paused smart contracts to stop the bleeding. But what really grabbed headlines? Sui validators stepped in and froze over $160M of the hacker’s stolen funds.

That move saved 73% of the loot. But it also sparked a huge debate in the crypto world.

Sui’s intervention raised eyebrows about how “decentralized” the network actually is. Critics argue that if validators can freeze funds at will, then Sui isn’t truly decentralized. Justin Bons from Cyber Capital even slammed the chain, saying its founders hold most of the token supply and only 114 validators exist.

On the flip side, Sui defenders like Matteo, an anon ambassador from SuiLend, say the validators acted responsibly. “Decentralization doesn’t mean being powerless—it means coordinating without central permission,” he said on X.

Meanwhile, Cetus is offering a $6M bounty to the hacker to return the rest of the funds. About $60M was bridged to Ethereum, and $53M of that has already been laundered.

The hack triggered a deeper conversation: Should blockchains be able to freeze assets to protect users, or does that cross a line?

One thing’s clear—this cetus hack event could be a major turning point in how we define decentralization in crypto.

YOU MIGHT ALSO LIKE: Worldcoin (WLD) Surges 27% as $135M Raise Fuels U.S. Expansion

Worldcoin (WLD) Surges 27% as $135M Raise Fuels U.S. Expansion

WLD Goes Wild 😮‍💨 Worldcoin Bags $135M, Blows Up 27%

Yo, Worldcoin just got a massive bag—$135 million, to be exact—and the market is vibing hard. Its token WLD popped 27%, hitting $1.57 and sending shockwaves through the altcoin scene.

Big players like a16z and Bain Capital Crypto led the raise, and now the Worldcoin Foundation is ready to push its whole Orb-verification + World ID game across the U.S. Think L.A., Miami, NYC—and that’s just the start.

In the last month, WLD’s been absolutely cooking: up 82%, with 35% of that just this week. Its market cap is now $2.38B, placing it at #47 on the crypto leaderboard. And the trading volume? It exploded over 160%, hitting $1.09B in just one day 💰.

Love it or side-eye it, Worldcoin’s biometric identity mission is grabbing headlines again. If all tokens were in play, the project would be flirting with a $5B valuation.

Yeah, it’s kinda dystopian. But also, kinda genius? Either way, WLD’s back in the spotlight.

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